Transcript

Move Your Ass Monday #27 Why Go Into Business for Yourself – And Why Not

Hi this is Warren Greshes and welcome to, “Move Your Ass Monday!” I’m here to eliminate all the excuses, get your week started on a high note and make sure you reach your fullest potential.

A group of Women Entrepreneurs were asked their reasons for quitting their jobs and starting their own businesses. The most common answers were:

The freedom to spend more time with my children, if I choose.

The opportunity to reach my full potential

Because I’m tired of banging my head against the glass ceiling.

Being my own boss

Money came in far down the list, which is interesting, since so many people make the mistake of using “Financial Rewards,” as their overriding reason to go off on their own.

True, if we looked at a composite of the average millionaire, it would be someone who owned their own business. But for many, if not most, of these people, money was simply a by-product of all the right reasons they went off on their own.

While money is a poor reason to go into business, it’s an even worse reason for choosing what business to go into. I’ve had people tell me they’d decided to get into a certain business because they heard “you can make a lot of money doing that.” The truth is: you can make a lot of money doing anything, if you’re good at it, enjoy it and work your tail off.

There are far better reasons to choose a particular business; such as:

You have a talent for something (like cooking, technology, working on cars, home repairs, etc.), really love doing it and just happen to be good enough that customers will buy your services. One caution: Being a great cook doesn’t mean you’ll be a successful restaurant owner. There’s more to running a restaurant than just cooking. If you’re not willing to learn and master the business aspects of it, don’t do it. Instead, think about getting into catering, or being a personal chef.

You feel you have something to offer that people need. Many great discoveries have come about because the inventor was attempting to make his or her own life easier or better. In the movie “Baby Boom,” Diane Keaton is so unhappy with the baby food in the stores, she starts making food at home for her daughter. Her daughter loves it so much; she realizes she might be on to something. She creates packaging, starts her own gourmet baby food company, and builds into a successful operation.

It’s the kind of business that offers you the freedom and flexibility you always wanted. Many people start home-based businesses because they want to be able to spend more time with their families or be home when the kids come home from school. Others might want a totally opposite life-style and choose a business that allows them to travel all over the world.

The biggest reason to avoid using money as your main motivation for either starting or choosing a business is: money is the last thing to come.

The first few years in business will be very hard. There won’t be a lot of money. Unless you’re in it for the right reasons, what is going to keep you happy and keep you going during those tough times?

If you like this video series and want the link delivered right to your email first thing Monday morning go to my website at greshes.com and in the upper right hand corner sign up for a free subscription. See ya next Monday.